Bulletin No. 2003–24 June 16, 2003
ESTATE TAX
Internal Revenue Bulletin 2003-24 · 2026-10-03 edition · updated 2026-10-04 · United States
Rev. Rul. 2003–61, page 1015. Taxation of qualified family-owned business interest (QFOBI). A distribution in redemption of stock that is part of a QFOBI and that qualifies under section 303 of the Code: (1) does not affect the initial determination of whether the estate is eligible to make the QFOBI election, and (2) does not constitute a disposition under section 2057(f)(1)(B); thus under section 2057 no additional estate tax is imposed as a result of this distribution.
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